Author Topic: The Brand Development Process - Why Build a Brand?  (Read 736 times)

sally crocker

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The Brand Development Process - Why Build a Brand?
« on: March 02, 2014, 09:25:20 pm »
Why Build a Brand?

Essentially, a brand is usually a symbol with a moniker or tagline that represents the bigger “vision” of a company and how it intends to relate to its customer base.

Branding has come to mean the act of creating, maintaining, protecting and enhancing the life of the brand. Branding includes the actions of strategically marketing the brand and tying all marketing efforts back to the overall brand.

The goals:

   
    • Develop a dominant brand identity
          Build brand awareness of that identity
          Build brand loyalty to the brand
          Measure brand equity, tying the brand to financial performance

Once we have clearly defined our brand, we can associate those brand attributes to the products and services represented by the brand. But how do we determine the essence of our brand? In addition to developing and managing the “brand identity,” we apply a brand development process that defines what can be called the “brand foundation.” The brand foundation then guides all product marketing decisions as well as the marketing objectives, strategies and tactics.

The brand also guides corporate decision. For example, when considering expansion into a new product line, strong brand companies examine whether or not the new product line “fits” with the existing brand. When contemplating expansion into a new market, strong brand companies evaluate whether or not the market is appropriate, given the brand foundation.